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Finishing the Week on a High

August 24, 2012

After a virtually breakeven week, I finally caught a decent profit today. I very much prefer to try and draw consistent profits from the market, ending as many days as profitable with modest profits. Sometimes the market doesn’t oblige though. Even so, while ever I manage risk effectively and follow my plan it is very unlikely that I will be unable to ‘tread water’ through periods in which opportunities are thin on the ground.

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Daytrading Chart 24th August

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+0.00

+4.25

+2.50 (exited at close of market)

(6.75)

Over the course of the week I netted 8.5 points, which averages to $85 per contract per day – not great, but always more welcome than a loss. If you have a $5K account then you can trade a single contract with a 1.5 point stop without risking more than 2% of your account on any one trade. If you return an average of just $60 per day after commissions then you’ll have doubled your account in 17 weeks. And it’s all scaleable.

See the Full Chart for Today’s Trading

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